Global Molasses Market Report 2023: Market Size, Key Segments And Regions

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The Molasses Global Market Report 2023 by The Business Research Company, provides molasses market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Molasses Global Market Report 2023, the market size will grow from $12.89 billion in 2022 to $13.73 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The molasses market size is expected to grow to $18.22 billion in 2027 at a CAGR of 7.3%.

The increasing import and export activities due to the growing applications of molasses globally are expected to propel the growth of the molasses market. Molasses is used in various industries such as food and beverage, healthcare, pharmaceutical, personal care products, animal feeds, and others. Due to several applications of molasses, there is a huge demand coming from around the world which is pushing the companies to get significantly involved in the import and export activities of molasses. In turn, this is driving more demand for molasses globally.

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The molasses market is segmented:

1) By Type: Regular Molasses, Blackstrap Molasses

2) By Sources: Sugarcane, Sugar Beet

3) By Category: Organic, Conventional

4) By Application: Feed, Food And Beverage, Other Applications

New product launches and developments are a key trend gaining popularity in the molasses market. Companies are launching new products to stay ahead of the competition and increase market share. New product launches help companies build their brand, increase product portfolio, increase awareness and capture additional revenue. For instance, in June 2021, International Molasses Corporation, a US-based producer and provider of sugar cane molasses products, invert syrups, honey, agave syrup, and custom formulated sweeteners, launched CaneRite Panela, a natural, unrefined, and non-centrifuged powder sweetener or dry molasses made from the freshly squeezed juice of the sugar cane plant. Its nutritional profile is that of the whole cane plant including potassium, calcium, magnesium, manganese, iron, and zInc., It has five times more vitamins and minerals than raw sugar.

The molasses market report table of contents includes: